Business

11 April 2008 [14:07]

Azerbaijan International Tourism and Travel Exhibition to take place on April 16-18

Iteca Caspian (Azerbaijan) and ITE Group Plc (UK) will hold the 7th International Tourism and Travel Exhibition (ATIF-2008) in Baku on April 16-18, 2008.
11 April 2008 [12:03]

Mahmud Mamedkuliyev: "Terms of Azerbaijan's accession to WTO mostly depend on the nearest round of talks in Geneva"

Representatives of the negotiation group on Azerbaijan's accession to the World Trade Organization will be visiting Geneva on April 21-26 to take part in a training envisioning a number of bilateral talks, including Norway, South Korea and probably with some other countries.
11 April 2008 [11:27]

Per capital incomes rise by 33.1% in Azerbaijan through first three months of 2008

The per capita incomes have risen by 33.1% as compared to the same period of the last year up to AZN 483.3 and $576.8 through the first three months of 2008, said a source from the state statistical committee.
11 April 2008 [11:09]

Azerbaijan produces goods on AZN 8,200,000,000 through first three months

In the first quarter of 2008 Azerbaijan produced goods in the amount of AZN 8,200,000,000, said a source from the State Statistical Committee.
11 April 2008 [09:50]

Regular session of Azerbaijani-Turkish intergovernmental commission to be held in Ankara

The fifth session of the Azerbaijani-Turkey intergovernmental commission on economic cooperation will be held in Ankara today.
11 April 2008 [09:32]

Azerbaijan to host forum of OIC states' tourism operators

A forum of the tourism operators of the member-states of the Organization of Islamic Conference, participating in the Silk Road project will be held in Azerbaijan on April 13-16.
10 April 2008 [14:34]

BTC pipeline pumps over 2,000,000 tons of Azeri oil in March

The Baku-Tbilisi-Ceyhan pipeline pumped 2,899,938 tons of Azeri oil in March.
10 April 2008 [14:04]

Ceyhan port exports over 2,000,000 tons of Azeri oil to world markets in March

The Ceyhan port shipped 31 tankers load of 2,932,925 tons of Azerbaijani oil to the world markets in March.
10 April 2008 [13:42]

IMF forecasts two year inflation rate to be 19-22% for Azerbaijan

International Monetary Fund predicts Azerbaijan’s GDP growth rate at 18.6% in 2008 and 15.06% in 2009.
10 April 2008 [10:34]

Belarus oil platform to operate in Azerbaijan

A Belarus oil platform on oil field development will appear in Azerbaijan.
10 April 2008 [10:03]

President of Azerbaijan ratifies agreement on cooperation between Azerbaijan's Ministry of Industry and Energy and Romanian Ministry of Economy of Finance

President of Azerbaijan Ilham Aliyev ratified an agreement on cooperation signed between the Ministry of Industry and Energy of Azerbaijan and Ministry of Economy and Finance of Romania, Day.Az reports with reference to the press service for the President.
10 April 2008 [09:50]

World Economic Forum: "Azerbaijan outstrips Russia, Armenia and Georgia by use of information technologies"

The World Economic Forum has worked out a regular yearly report Global Information Technology Report 2007-2008, which fixes the countries, which use information technology.
09 April 2008 [16:15]

Azerbaijan and Korea to ink agreement on Absheron Polluted Site Clean-up Project

Azerbaijan’s Minister of Industry and Energy Natig Aliyev has hosted a delegation led to Baku by Vice-President of Korean International Cooperation Agency (KOICA).
09 April 2008 [15:47]

SOCAR to invest $100,000,000 into Georgian economy

SOCAR intends to invest $100,000,000 into the Georgian economy in the near future.
09 April 2008 [14:25]

Meeting of Azerbaijani and Greek entrepreneurs to be held in Baku

A meeting of Azerbaijani and Greek entrepreneurs arranged by economic and commercial department of Greek embassy to Azerbaijan, Nargiz Asadova, coordinator for work with press and public of the Greek embassy to Azerbaijan, told Day.Az.
09 April 2008 [09:38]

Azerbaijan's strategic monetary reserves to reach $10,000,000,000

The strategic monetary reserves will reach $10,000,000,000 in the near future, said Rufat Aslanly, deputy chairman of the National Bank of Azerbaijan, Day.Az reports.
09 April 2008 [09:11]

Russia’s Sberbank and Vneshtorgbank to enter Azerbaijani market

Russia’s SberBank and Vneshtorgbank may be seen in Azerbaijani market in the offing, Russian Banks Association Vice-President Anatoliy Milkyukov said in Baku.
08 April 2008 [17:40]

Azerbaijan's National Bank refuse to elaborate on dollar/euro correlation in bi-currency basket

"The bi-currency basket is an internal tool of the National Bank of Azerbaijan and the dollar/euro correlation can not be made public", said Rufat Aslanly, deputy chairman of the National Bank of Azerbaijan.
08 April 2008 [17:20]

Azerbaijan's Deputy Economic Development Minister: "Financial sector will play a significant role in diversification of Azerbaijan's economy"

The financial sector will play a significant role in the diversification of Azerbaijani economy and the share of the said sector in the GDP will be high.
08 April 2008 [17:10]

SOCAR executes March forecast on gas production and commissioning to the state

The State Oil Company of Azerbaijan produced 662,320,000 cubic meters of gas in March 2008, thus executing the forecast by 100%.
08 April 2008 [16:33]

AIOC achieves 8% rise in oil production in Jan-Mar

Azerbaijan produced in total 11.247 million tons of oil during the first quarter, a 7.96% rise as compared to a year earlier.
08 April 2008 [16:02]

Azerbaijan boosts oil exports by 18%

8.731 million metric tons of oil flowed abroad from Azerbaijan during January-March, a 17.67% rise as compared to the same period a year earlier.
08 April 2008 [14:14]

Azerbaijani government to consider new proposals on targeted social assistance

Azerbaijan’s Ministry of Labor and Social Protection has sent to the Government a package of proposals for amendment of the Targeted Social Assistance Law.
08 April 2008 [13:36]

Talks on Azerbaijani gas supplies held in Tbilisi

SOCAR President Rovnag Abrullayev is visiting Georgia, a source from the Georgian Embassy to Azerbaijan told Day.Az.
08 April 2008 [12:08]

Azerbaijan to repay electricity debt to Iran within 6 months

Azerbaijan will start repaying electricity imported from Iran on April 20, said Marlen Asgarov, Vice-President of Azerenerji.
08 April 2008 [12:00]

12th session of temporary work group of Organization for Railway Cooperation starts in Baku

The 12th session of the temporary work group on improvement of basic documents of the Organization for Railway Cooperation started in Baku, Azerbaijan, said Nadir Azmamedov, spokesman for the Azerbaijan State Railway Administration.
08 April 2008 [11:18]

Azerbaijan to experience 35% rise in grain output

Azerbaijan’s grain crop is expected to be 35% or 600 000 tons higher than 2007, said Sabir Valiyev, officer of the country’s ministry of agriculture.
08 April 2008 [10:34]

New multi-fuel power plant to be built in Azerbaijan

Azerbaijan’s state AzerEnerji and Finland’s Wartsila are discussing the project of a 104MWe power plant in Guba, 165 km northwest of Baku.
08 April 2008 [10:07]

USAID to allocate $16,000,000 for implementation of projects in Azerbaijan in 2008

USAID will allocate $16,000,000 for implementation of its projects in Azerbaijan this year, said USAID coordinator in Azerbaijan Scott Taylor, according to Novosti-Azerbaijan.
08 April 2008 [09:46]

$9,000,000 to be allocated for Private Sector Competitiveness Program implemented in Azerbaijan

USAID will start implementation of a new Private Sector Competitiveness Project, aimed at the development of this sphere in Azerbaijan.
07 April 2008 [16:00]

Spanish-Azerbaijani business-forum to be held in Barcelona

A Spanish-Azerbaijani business-forum will be held in Barcelona (Spain) on April 8.
07 April 2008 [10:28]

SOCAR's Kulev terminal in Georgia to open in two weeks

The Kulev oil terminal will open within the next two weeks, said Mahir Mamedov, representative of Socar Energy Georgia.
07 April 2008 [09:35]

Over 12,000 jobs opened in Azerbaijan's south in 2007

12,051 jobs were opened in Lenkoran economic area in 2007.
05 April 2008 [13:18]

Color newspapers to be printed in Azerbaijan

Azerbaijan will start printing color newspapers with raising cost of printing services.
05 April 2008 [09:29]

SOCAR raises oil and gas production in March

In March of 2008 the State Oil Company produced 739,950 tons of oil.
04 April 2008 [16:21]

Azerbaijan, Estonia discuss possible evasion of double taxation

Estonian entrepreneurs have been invited for a more active investment into the non-oil sector of Azerbaijani economy.
04 April 2008 [15:22]

Azerbaijan receives 898,700,000 cubic meters of gas in March

SOCAR and Consortium of foreign companies delivered 898,693,275 cubic meters of gas to Azerbaijan in March of 2008.
03 April 2008 [17:22]

Business forum of Azerbaijani and Greek entrepreneurs to be held in Baku, Azerbaijan

Prospects of economic cooperation will be discussed at a business forum of Azerbaijani and Greek entrepreneurs in Baku, Novosti-Azerbaijan reports.
03 April 2008 [14:03]

Transparency International holds anti-corruption seminar in Lenkoran, Azerbaijan

Transparency International Azerbaijan office held a seminar for officials of the Lenkoran department of Ministry of Taxes and residents of Gevzon settlement of Lenkoran on April 3.
03 April 2008 [13:52]

Azerbaijan leading among CIS countries by industrial growth rates in January-February of 2008

Azerbaijan has become a leader among the CIS states by industrial growth rates through two months of 2008.
03 April 2008 [13:17]

Azerbaijan to open first smart house this year

Azerbaijan-based Dolchasaray Construction Company will soon complete the construction of the first smart building, a highly automated building that uses a common network infrastructure for lights, appliances and other devices.
03 April 2008 [10:59]

SOCAR President receives South Korean delegation

Rovnag Abdullayev, president of the State Oil Company of Azerbaijan, received a delegation of South Korea led by Deputy Minister of Economic Knowledge Li Jae-Hun.
03 April 2008 [10:21]

Azerbaijani Transport Minister discusses construction of international trade port in Baku with Korean representatives

A meeting with a delegation of Korea was held in Azerbaijan's Ministry of Transport yesterday.
02 April 2008 [16:38]

Transparency International holds anti-corruption seminar for officials of Qaradagh settlement of Baku

The Azerbaijani representation of Transparency International held a seminar for officials of the Executive Powers of Qaradagh settlement of Baku on April 2, a source from the Azerbaijani representation of Transparency international told Day.Az.
02 April 2008 [15:43]

Development of general plans of Sheki, Shamakhi, Yevlakh and Masally start in Azerbaijan

Azerbaijan has started development of the plans of regional centers, said Jahangir Gojayev, chief of department of international relations and information under the State Committee for Town-Building and Architecture.
02 April 2008 [14:18]

Head of Cuban commercial chamber to visit Baku, Azerbaijan in May

Raul Besser, chairman of the commercial chamber of Cuba will visit Baku on May 15-16, said Marcelo Caballero Torres, Cuba's temporary plenipotentiary to Azerbaijan.
02 April 2008 [14:06]

Kamran Aliyev: "Unfortunately, the reports of international organizations, especially Transparency International, contain biased moments in the assessment of situation and definition of corruption index"

Unfortunately, the reports of international organizations, especially Transparency International, contain biased moments in the assessment of situation and definition of corruption index.
02 April 2008 [13:22]

Five star Baku hotel to open in Istanbul

President of Palmali group of companies Mubariz Mansimov purchased the building of the HSBC company in Istanbul, which was subjected to terrorist act in 2003.
02 April 2008 [13:01]

CIS Statistical Committee: "High GDP growth rate will be fixed in Azerbaijan in 2008"

Azerbaijan will experience one of the highest GDP growth rates among the former Soviet countries in 2008, according to the forecasts of the Intergovernmental statistical committee of the CIS.
02 April 2008 [09:26]

Baku-Ceyhan pipeline's capacity currently making up 875,000 barrels per day

Baku-Tbilisi-Ceyhan pipeline will pump 1,000,000 barrels of oil daily by the end of 2008, BTC Turkish manager Jan Sufi said, Day.Az reports with reference to Reuters.
02 April 2008 [09:11]

Monetary reserves of Azerbaijan's national bank reach $4,260,700,000

As of April 1 of 2008 the monetary reserves of the National Bank of Azerbaijan made up $4,260,700,000.
01 April 2008 [15:29]

Ali Masimli: "The real rise in prices exceeds forecasts of the government"

In line with the monitoring I have held, the real rise in prices exceeds the forecast of the government, fixed in the state budget.
01 April 2008 [12:33]

Azerbaijan plans to reconsider consumer basket structure this year

Azerbaijan plans to reconsider the structure of the consumer basket this year, said Chingiz Tagiyev, Officer of the Labor Unions Confederation.
01 April 2008 [11:01]

International conference on unification of efforts in combat with corruption starts in Baku - UPDATED

An international conference on unification of efforts in combat with corruption started in Baku on Tuesday.
01 April 2008 [09:31]

Ilham Aliyev: "Poverty rate has been reduced from 49% to 16% through the past four years in Azerbaijan"

President of Azerbaijan received participants of the session of the Executive Committee of the International Anti-corruption association, held in Baku, Day.Az reports with reference to the press service for the President.
31 March 2008 [15:50]

Vice president of International Financial Corporation to arrive in Baku

Deklan Duff, vice president of the International Financial Corporation (WB substructure) will arrive in Baku on April 3 of 2008.
31 March 2008 [14:34]

Azerbaijan, Russia and Iran to meet in Baku for North-South Transport Corridor

In late May, heads of railways of Russia, Iran and Azerbaijan are to come together in Baku for discussion on the International North-South Transport Corridor.
31 March 2008 [13:01]

Iran intends to raise volume of gas imports from Azerbaijan by 10 times

Iran is ready to raise the volume of imported Azerbaijani gas at least by ten times, announced a source from the National gas company of Iran.
30 March 2008 [17:07]

Azerbaijan, Iran and Russia sign memorandum of construction of Kazvin-Resht-Astara railway section

Heads of the railway administrations of Azerbaijan, Iran and Russia met in Teheran yesterday.
30 March 2008 [16:07]

Moore Stephens to audit 8th report on EITI in Azerbaijan

Moore Stephens will hold the 8th report in the framework of the Extractive Industries Transparency Initiative in Azerbaijan.
30 March 2008 [15:43]

Azerbaijan-Jordan Business Forum to take place in Baku

Baku will host an Azerbaijan-Jordan Business Forum on May 6, Azerbaijani embassy in Jordan said.
30 March 2008 [15:35]

Highly productive well commissioned in Guneshli field

Highly productive well No 244 has been commissioned at platform No 13 of Guneshli field.
30 March 2008 [14:43]

International conference on combat with corruption to be held in Baku

The international conference on combat with corruption is expected to be held in Baku, Azerbaijan on April 1.
30 March 2008 [13:44]

Azerbaijan to produce 9.5 tons of gold from Gedebey field in eight years

Azerbaijan International Mining Operating Company plans to extract 9.5 tons of gold in Gedebey field during 2008-2015, said a source in the government of Azerbaijan.
30 March 2008 [10:06]

Azerbaijan raises positions in Global Country Credit Rating

Azerbaijan has risen from the 80th to the 77th place in the Global country credit rating.
30 March 2008 [09:06]

Concept of Oil Museum creation discussed in Azerbaijan

SOCAR held a session on the concept of the Oil Museum creation yesterday.
29 March 2008 [18:24]

WB to allocate $476,000,000 for three projects in Azerbaijan

The WB Directors Board has approved allocation of a credit to Azerbaijan for implementation of 3 projects.
29 March 2008 [16:29]

EU assigns EUR 1,450,000 for social protection system in Azerbaijan

The project of AI TACIS program entitled "Reformation of the social protection system in Azerbaijan" will complete by the end of March of 2008.
29 March 2008 [16:12]

WB and SOCAR implementing grant ecological program

The WB Baku representation and the State Oil Company of Azerbaijan have initiated admission of applications of potential candidates on a joint program of small grants for 2008.